Visa Inc. is letting iPhone users make mobile transactions by waving their handset in front of a contactless payment terminal.

Banks that are pushing to promote contactless payments are focusing on the wrong target and should switch their focus to mobile commerce, according to Ovum.

Contactless mobile payments mean a faster checkout resulting in more revenue from increased throughput and the loyalty of customers who prefer contactless to make purchases.

Contactless chip technology provider Inside Contactless is making its Open NFC commercial-grade NFC protocol stack available in a free and open source edition.

Near field communication—NFC—will begin to replace traditional wallets and purses starting in 2011, according to research by SJB Research.

For years, mobile near field communication has been touted as one of the most promising mobile technologies for the banking industry. Will NFC take off in 2010?

MasterCard Canada has launched a trial of its PayPass payment service with Research In Motion’s BlackBerry smartphones.

Gemalto, a provider of digital security, announced that its Near Field Communication SIM card products are compatabile with Nokia’s contactless mobile devices.

Near Field Communication software company Zenius Solutions has launched an NFC add-on software product for GSM phones enabling interactive NFC capability on mobile phones currently in market.

Citi Tap and Pay, a contactless credit-card payments platform based on Near Field Communications technology, has rolled out in India.